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Symetis TAVR Buy Not About Throwing Shade On Lotus, BSX Insists

 
• By Tina Tan

Europe's No. 3 in the transcatheter aortic valve replacement market, Boston Scientific, has inked a $435m deal to acquire its smaller Swiss rival Symetis. The US company bats away skeptics wondering whether the transaction signals Boston Scientific's shaky faith in its own Lotus valve platform, which is currently subject of a major recall. One casualty of the acquisition will be early-stage mitral valve technology company Middle Peak Medical, which Symetis had only bought a month ago.

Boston Scientific Corp.'s Mar. 30 announcement that it was acquiring Symetis SA, a smaller European rival in the transcatheter aortic valve replacement market, was greeted with a good dose of skepticism. Some believe that the move is an indication of declining confidence by the US company in its own TAVR platform, Lotus, which was pulled off the shelves and out of ongoing clinical trials in February due to a reported defect.

Under the terms of agreement, Boston Scientific will pay $435m upfront, all-cash, for Symetis. The latter is considered a relative latecomer to the TAVR scene. Its Acurate TA device, which...

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